Do you happen to always be worried about your property? Whether it is your own house or where your business is. Well, where your business is located is important and if you are hit by the hard times and your building or area becomes unoccupied, I'm sure that will worry you even more. Worry no more for there is an answer to this.
There are now companies that provide unoccupied property insurance. What is this, you may ask? Well, let me tell you more about it because it will be good for you to be aware of such a thing. Mind you, they not only provide insurance for an empty office building but also for empty houses, vacant industrial units, empty factory buildings, vacant offices and shops as well. The insurance companies incur greater risks when actually providing insurance for properties like these because there may be instances of vandalism, fire and are not always subjected to visits and check-ups of the area.
But they do customise policies according to circumstances. Their standard policies automatically cover owner or landlord liability. They also offer additional protection against explosion, aircraft, lighting, subsidence, landslip, fire and heave. Fire is a great enemy of insurers and empty or unoccupied properties are very susceptible to this. You might think that your property is not prone but if there are outer buildings like a shed or garage that is mostly made out of wood for instance, a fire that starts there can eventually spread to the main building.
Unoccupied property insurance may also cover buildings or properties that are under renovation or refurbishment. Obviously, these places would be at risk as well. If you are just planning to have a property renovated or refurbished, it is best to start looking into insurance for unoccupied property. You may have to pay for it but in the long run, it would be great help for you never know what might happen in the process.
If on the other hand, a property that you own is up for sale, therefore unoccupied or in the process of being occupied, this then falls under the standard insurance policy. But don't think that you have no options for this because can help you out and give coverage over and above what is provided by the standard policy.
So as early as now, it would be advisable to check out insurance companies that provide unoccupied property insurance. You can get in touch with them and for sure they will have specialist insurers who can help you out.
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